BGM Group Ltd. (NASDAQ:BGM) Shares Shorted: Short Interest Down 92.6% in October

BGM Group Ltd. (NASDAQ:BGM) was the target of a large decrease in short interest during the month of October. As of October 15th, there was short interest totaling 8,247 shares, a decrease of 92.6% from the September 30th total of 112,147 shares. Approximately 0.2% of the company’s shares are sold short. Based on an average daily trading volume, of 11,701 shares, the short-interest ratio is currently 0.7 days.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded BGM Group from a “sell (d)” rating to a “sell (e+)” rating in a research report on Thursday, August 6th. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the company has a consensus rating of “Sell”.

BGM Group Stock Up 8.5%

NASDAQ BGM traded up $0.76 during trading hours on Wednesday, hitting $9.74. The company had a trading volume of 7,044 shares, compared to its average volume of 9,577. BGM Group has a fifty-two week low of $6.45 and a fifty-two week high of $302.40. The firm’s 50 day moving average is $8.44 and its 200 day moving average is $21.78.

BGM Group (NASDAQ:BGM) last issued its quarterly earnings data on Friday, August 28th. The company reported ($0.30) EPS for the quarter. The business had revenue of $12.15 million during the quarter.

About BGM Group

Qilian International Holding Group Limited manufactures and distributes active pharmaceutical ingredients (APIs), traditional Chinese medicine derivatives (TCMD), and other by-products in China. The company provides licorice products, including Gan Di Xin, an antitussive and expectorant medicine; Qilian Shan Licorice Extract, an ingredient for pharmaceutical companies to manufacture traditional licorice tablets; and Qilian Shan licorice liquid extract, a primary ingredient for medical preparation companies to produce compound licorice oral solutions.